Wristwatch collectors out there?

[Periferius]

Everyday watch is a Submariner, formal dress a Patek Philippe, for the rest: a Piquette and several Victorinox and of course my faithfull GI Marathon H3.

[mosesbotbol]

Originally Posted by Periferius

Everyday watch is a Submariner, formal dress a Patek Philippe, for the rest: a Piquette and several Victorinox and of course my faithfull GI Marathon H3.

Which Patek do you own?

[Periferius]

Originally Posted by mosesbotbol

Which Patek do you own?

Golden Ellipse 5738P.

I like simple watches.

[papichulo]

My daily wearers are a Nite or Luminox Seal.

[mosesbotbol]

Originally Posted by Periferius

Golden Ellipse 5738P.

I like simple watches.

It's amazing the valuation Patek watches have had over the last 15 years. They went from very expensive to way-way-expensive, I think due to Chinese market. Good investment watch.

[Periferius]

Originally Posted by mosesbotbol

Good investment watch.

Not to sound disagreeable, but that is never a good reason to buy something.

[Remo]

Cigars have quelled my watch buying. Currently down to a Solar G-Shock (for work) and my Helson Shark Diver.

[larryinlc]

I buy and wear wristwatches for fun and not investing. I do invest in old pocketwatches, especially when I can save one from the gold melters. Here is a 120 year old 18s Waltham in 14k that was destined to be melted down for the gold. I couldn't let that happen to this beautiful case. It's so fine that I think it spent most of it's life stored away in a sock drawer. You just don't see them in this condition anymore. The cost to recreate a case like this today would be outrageous and I just can't believe that anybody would be willing to destroy this piece of history for greenbacks. That's me though, I'm different.

Larry

[Periferius]

Originally Posted by larryinlc

I buy and wear wristwatches for fun and not investing. I do invest in old pocketwatches, especially when I can save one from the gold melters. Here is a 120 year old 18s Waltham in 14k that was destined to be melted down for the gold. I couldn't let that happen to this beautiful case. It's so fine that I think it spent most of it's life stored away in a sock drawer. You just don't see them in this condition anymore. The cost to recreate a case like this today would be outrageous and I just can't believe that anybody would be willing to destroy this piece of history for greenbacks. That's me though, I'm different.

Larry

I lift my hat for you Sir.

[mosesbotbol]

Originally Posted by Periferius

Not to sound disagreeable, but that is never a good reason to buy something.

Well there are a few marques if you buy them right, you won't lose money I should've said. Replacement cost are higher than when originally bought. Heck, I can sell my IWC used for more than I paid for it 15 years ago...

It'll be interesting to see how the market goes with Eta remaining exclusvie to Swatch group brands. Several marques have been scrambling to find replacements that'll be a direct fit. Tooling for a new case, and movement parts are $$$.

[dijit]

I think I agree with dont buy a watch as an investment. While I cant afford a $10k fashion statement (yet), there are many things that appreciate faster than watches or even Gold. Ferrari's come quickly to mind the used ones often sell for double what they were new 2 years ago.

[mosesbotbol]

Originally Posted by dijit

Ferrari's come quickly to mind the used ones often sell for double what they were new 2 years ago.

Which one's would those be? Considering ownership costs including insurance, salex tas and yearly excise tax... Maybe only the top of the range models could be true, and it's certainly not double.

[dijit]

Originally Posted by mosesbotbol

Which one's would those be? Considering ownership costs including insurance, salex tas and yearly excise tax... Maybe only the top of the range models could be true, and it's certainly not double.

This is based on what I read and was told by a former astronaut David Wolf and a former CEO for Conseco. In 2008 they both got on the new car waiting list. They did not share which models they were waiting for only that the new car price with applicable taxes and fees would be around $110K each and that resale on the cars were around $180K to $210K. A quick search for current prices shows a less positive move but the 458 italia 2010 model retail new $225k and used resale $264k. Excise tax is state dependent since not all states have excise tax on licensing auto's. Sales tax I am sure they did not include. However since that is a constant and based again on the state you live or register the car in can range from 0% to 10% or even more it would be very difficult to factor in.

[dijit]

Originally Posted by mosesbotbol

Which one's would those be? Considering ownership costs including insurance, salex tas and yearly excise tax... Maybe only the top of the range models could be true, and it's certainly not double.

Sorry misquoted the new car price for the 458 Italia. Invoice price was actually $191K current MSRP is $225K and current used retail actual price $264K still not quite what I was told several years ago but also not bad.

[mosesbotbol]

Originally Posted by dijit

Sorry misquoted the new car price for the 458 Italia. Invoice price was actually $191K current MSRP is $225K and current used retail actual price $264K still not quite what I was told several years ago but also not bad.

The other problem, even if one were to have 200K handy, it's not so easy to just buy a new Ferrari at the dealer. Their market cap allows them to be choosy who gets to buy new cars and how long the minimum ownership can be. If everyone just bought a new Ferrari and flipped it, the dealer would just increase the price.

If you want to hold something for several years, Cristal and Dom Perignon always increase in value and everyone can buy at it the same price when current at Costco, etc... See how much a 20 year old DP goes for compared to a current offering!

[dijit]

Originally Posted by mosesbotbol

The other problem, even if one were to have 200K handy, it's not so easy to just buy a new Ferrari at the dealer. Their market cap allows them to be choosy who gets to buy new cars and how long the minimum ownership can be. If everyone just bought a new Ferrari and flipped it, the dealer would just increase the price.

If you want to hold something for several years, Cristal and Dom Perignon always increase in value and everyone can buy at it the same price when current at Costco, etc... See how much a 20 year old DP goes for compared to a current offering!

Very few US Ferrari dealerships have new Ferrari's and it still allows them to be very picky with their clientele. Typically a prospective buyer would need to contact Ferrari sales directly through the manufacturer and decide to apply for the wait list and if it will be a dealer pickup or a factory pickup. The few Ferrari owners I have been able to converse with have stated that typically the factory encourages them to remain on the new car wait list even after purchase and to trade in the approximately 2 year old car. Typically this results in the owner being paid for their used car between 8 and 50% more than original sticker price. Dom or Cristal both are also subject to the year to determine the price both new and aged. This is determined by the acidity of the grape based on the rainfall and relative humidity fluctuations in the region. Too much moisture can cause the grape to be too sweet making the flavor flat too little can make the grape too tart making the wine too sharp or dry. Or maybe I have those backwards.

[Periferius]

Nothing beats a fly down to Maranello and then driving home.

[mosesbotbol]

Originally Posted by Periferius

Nothing beats a fly down to Maranello and then driving home.

That would be awesome; European delivery. Ferrari is one of our clients and few co-workers have had quite the tour of the factory.

[dijit]

Originally Posted by mosesbotbol

That would be awesome; European delivery. Ferrari is one of our clients and few co-workers have had quite the tour of the factory.

That is a tour I would love to take as well! with or without the drive home.

[irratebass]

Got me an Invicta!!!!!